Federal Reserve Chair Jerome Powell made clear Wednesday that the Fed will begin raising interest rates this month in a high-stakes effort to restrain surging inflation.
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Traders fret about a growth slowdown as Fed Chair Powell faces a dilemma on ratesWar in Ukraine may slow down growth, but it also stokes inflation. The Federal Reserve must weigh these factors.
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Powell tells Congress that Fed will raise rates this monthWASHINGTON (AP) — Federal Reserve Chair Jerome Powell made clear Wednesday that the Fed will begin raising interest rates this month in a high-stakes effort to restrain surging inflation. In prepared testimony he will deliver to a congressional committee, Powell cautions that the financial consequences of Russia's invasion of Ukraine are “highly uncertain.” He says the Fed will “need to be nimble” in responding to unexpected changes resulting from the war or the sanctions that the United States and Europe have imposed in response.
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Fed aims to raise interest rates this month, Chairman Powell saysChairman Jerome Powell said the Fed will “need to be nimble” in responding to changes resulting from the Russian invasion of Ukraine and sanctions being imposed by the U.S. and Europe.
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Powell tells Congress that Fed will raise rates this monthWASHINGTON (AP) — Chair Jerome Powell said Wednesday that he supports a traditional quarter-point increase in the Federal Reserve’s benchmark short-term interest rate when the Fed meets…
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Powell Says Fed Is on Track to Raise Rates in Two WeeksThe Fed chairman said it was too soon to tell how Russia’s invasion of Ukraine and its repercussions would influence the U.S. economy, but his remarks suggested growing urgency to tighten policy.
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Forex Today: Safe-haven assets in demand ahead of Russia-Ukraine talks, Powell testimonyForex Today: Safe-haven assets in demand ahead of Russia-Ukraine talks, Powell testimony By eren_fxstreet Currencies Majors Macroeconomics RussianFederation Ukraine
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